A flex spend account (FSA) provides a way to pay for health-related expenses, including eye care, not covered by vision or health insurance. The portion of your earnings that you designate to this account are tax-free and you can avoid paying out of pocket.
FSA dollars do have a deadline however. You typically must use the funds within the year’s plan.
Fortunately, most employers often provide a grace period of up to two-and-a-half months to use FSA. Some even allow a carryover of up to $500 to be used the following year. Most eye care services and products are eligible expenses for FSA.
There are several ways to use your flex spend to achieve healthy vision - from eyewear to eye care appointments. Here are three ways:
A comprehensive eye exam helps ensure that your eyes are in good health. It can detect eye conditions before they become severe, giving you time to get effective treatment. Eye exams also help monitor your vision and eye condition. If you wear contacts, a contact lens exam can be applied to the FSA.
Update your look with a new pair of eyeglasses. With frames available to suit any face shape, you can choose eyeglasses to compliment your looks and highlight your best features. With FSA, you can get a pair of stylish or trendy sunglasses to protect your eyes from UV rays. Get an updated prescription before getting the new frames.
Use your flex dollars to get a year's supply of contact lenses. Whether you use extended wear or daily disposable lenses, you can stock up on contact lenses. When stored properly, most lenses have a shelf life of three to four years.
Using your FSA to buy contact lenses will allow you to get your supply for the year. You can also take advantage of bulk discounts or manufacturer rebates. If your prescription changes during the year, you can return unopened lenses for an exchange.
Taking care of your eye health will allow you to enjoy good vision for years. Fortunately, getting eye care does not have to be expensive with your flex dollars. You can use the money to stock up on eye drops and contact lens solution.
Getting an extra pair of eyeglasses is a good idea. It can save you the unexpected expense of buying new eyewear in case of damage or loss. You can also invest in a new pair of UV-protective sunglasses for your child. If you work long hours on your computer, you can invest in computer lenses to avoid eyestrain, blurry vision, and headaches.
For more ways to spend your flex dollars, visit BIG CITY OPTICAL at one of our 16 offices in Chicago, Wilmette, Evanston, Bannockburn, or Glenview, Illinois. Call or click here to book an appointment today.